2024-5-19 11:19 |
The crypto gaming space is exciting as $SPONGE, a gaming meme coin that has delivered a staggering 10,000% return to its early backers, reaches out to its community for guidance on distributing staking rewards.
Notably, this strategic move comes as $SPONGE prepares for its presale conclusion and eyes potential listings on major exchanges.
According to an official announcement, the $SPONGE team has launched a poll on X (formerly Twitter) from May 16th to May 21st to determine how staking rewards should be distributed. The poll offers four options: immediate access to rewards at the end of May, a one-month lock, or vesting the rewards over six months or a year.
Originally launched on Ethereum, $SPONGE recently transitioned to the Polygon network. This migration includes three groups eligible to claim tokens: presale participants, those who bridged to Polygon before February 5th, and holders who manually moved into a claim contract post-snapshot.
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The upgrade to $SPONGE V2 on Polygon follows a significant liquidity pool attack, accelerating the planned migration and enhancing the protocol’s staking model.
Since its launch in May 2023 at $0.000025, $SPONGE has seen exponential growth, with recent highs reaching $0.002763. The V2 upgrade on Polygon includes a revamped staking model offering a 335% yield, expected to attract more stakers as the project gains traction. The community’s choice of the staking rewards distribution will shape the token’s immediate landscape.
Adherents are bullish on $SPONGE, anticipating listings on major exchanges such as Binance and OKX, which could significantly boost the token’s visibility and accessibility. The forthcoming Sponge-themed play-to-earn (P2E) game, set in a virtual version of Bikini Bottom, aims to integrate gaming with incentives, further distinguishing $SPONGE from other meme coins.
The $SPONGE project combines meme culture with tangible utility through its dual-revenue model, encompassing staking rewards and gaming. This innovative approach positions $SPONGE as a potential disruptor in the meme coin market, challenging established tokens like $PEPE, $DOGE, and $WIF.
Early supporters are encouraged to participate in the staking rewards poll and take advantage of the presale window before $SPONGE potentially goes mainstream with exchange listings.
Disclaimer: This is a sponsored article, and views in it do not represent those of, nor should they be attributed to, ZyCrypto. Readers should conduct independent research before taking any actions related to the company, product, or project mentioned in this piece; nor can this article be regarded as investment advice. Please be aware that trading cryptocurrencies involve substantial risk as the volatility of the crypto market can lead to significant losses.
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